Ares-Serono Hit By Supply Problems
In the first three months of 1995, Swiss company Ares-Serono achieved worldwide net sales of $153 million, up 4.4%. Net income was $5.5 million, down from $13.7 million in the like, year-earlier period. Operating income was $15.2 million, down from 22.8%.
The company said that this performance reflects a decrease in the gross margin of 3.2% as well as a 5.7% decrease in R&D investment in the first quarter. The figures are also adjusted to reflect the sales of the diagnostic division in the second quarter of 1994.
Ares-Serono's sales are continuing to be affected by problems in supply in some markets. The company is not running at full production capacity due to efforts to expand manufacturing capacity.
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